GE Energy Forges OEM EV Charger Agreement with CODA Automotive

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GE Energy Industrial Solutions has finalized its first automotive original equipment manufacturer agreement for the sale and distribution of the GE WattStation(R) Wall Mount electric vehicle (EV) charging station with CODA Automotive, a leading EV manufacturer. (Photo: Business Wire)

The GE WattStation Wall Mount, a fast, easy-to-use Level 2 EV charger,
significantly decreases the time required to fully charge an electric
vehicle compared with a Level 1 charger. The CODA is the first
five-passenger, mid-size sedan that delivers the longest range of any
all-electric vehicle in its class. The vehicle is equipped with a
class-leading 36 kWh battery pack that enables a fully charged CODA to
go up to 150 miles, or almost five times the average daily commute.

The new collaboration creates a “one-stop shopping” experience for
consumers by creating the opportunity to have the GE WattStation EV
charging station and the CODA electric vehicle at the same retail
outlets. GE and CODA look forward to working together on additional
opportunities such as retail outlet displays, marketing event
co-promotions and consumer activities to demonstrate the ease of use and
functionality of GE Energy’s entire EV charging product line.

“This milestone is another step in GE’s journey to lead the future of
global electrification,” said Luis Ramírez, CEO of GE Energy Industrial
Solutions. “As demand for the GE WattStation continues to exceed our
expectations, bringing our products closer to the customer will help
accelerate the adoption of electric vehicles.”

Phil Murtaugh, CEO of CODA Holdings, said, “We are excited to be the
first car company in the United States to be working with GE Energy to
support consumers as they enter the EV world. As one of America’s most
established, recognized and respected brands, we're thrilled to be able
to support CODA customers with a reliable one-stop GE solution as they
move into the EV market.”

The zero-emissions CODA sedan features an industry-leading, 10-year,
100,000-mile battery warranty; class-leading range; fun-to-drive
handling and a new U.S. base price of $39,900. This relationship helps
support the company’s mission of putting an electric vehicle in every
garage.

GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.

GE also serves the energy sector by providing technology and service
solutions that are based on a commitment to quality and innovation. The
company continues to invest in new technology solutions and grow through
strategic acquisitions to strengthen its local presence and better serve
customers around the world. The businesses that comprise GE
Energy—GE Power & Water, GE Energy Management and GE Oil & Gas—work
together with more than 100,000 global employees and 2010 revenues of
$38 billion, to provide integrated product and service solutions in all
areas of the energy industry including coal, oil, natural gas and
nuclear energy; renewable resources such as water, wind, solar and
biogas; as well as other alternative fuels and new grid modernization
technologies to meet 21st century energy needs.

About CODA

Headquartered in Los Angeles, CODA Holdings is a leading developer of
advanced Lithium-ion power battery systems comprised of three key
business lines: CODA Automotive, CODA EV Propulsion Systems and CODA
Energy. Together with its JV partners, CODA is working to reduce
dependence on oil and leading the way to a cleaner future through its
electric vehicles and stationary energy storage products. The first
consumer product available will be a zero-emission, four-door,
five-passenger EV sedan with a full-size trunk that is designed to meet
American drivers' daily transportation needs. For more information on
the CODA sedan, visit www.codaautomotive.com.